BUZZ-U.S. STOCKS ON THE MOVE-AMC, Royal Caribbean Cruises, Concho Resources, Theratechnologies

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Futures tracking the S&P 500 were flat on Wednesday on doubts about more fiscal stimulus following an impasse in Washington and ahead of the next batch of quarterly bank earnings after JPMorgan kicked off the season on an upbeat note. .N

At 7:15 ET, Dow e-minis 1YMc1 were down 0.07% at 28,566. S&P 500 e-minis ESc1 were down 0.18% at 3,498.5, while Nasdaq 100 e-minis NQc1 were down 0.05% at 12,088. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Genesis Healthcare Inc <GEN>, up 32.3% ** Capital Senior Living Corp <CSU>, up 13.8% ** Monmouth Real Estate Investment Corp <MNR>, up 10.3% The top three NYSE percentage losers premarket .PRPL.NQ: ** Enzo Biochem Inc <ENZ>, down 10.7% ** J Jill Inc <JILL.K>, down 9.8% ** Sos Limited

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Royal Caribbean Group announces pricing of $500 million senior convertible notes offering

MIAMI, Oct. 13, 2020 /PRNewswire/ — Royal Caribbean Group (NYSE: RCL) (the “Company”) today announced that it has priced its previously announced private offering of $500 million aggregate principal amount of 2.875% Convertible Senior Notes due 2023 (the “Convertible Notes”). In connection with the offering of the Convertible Notes, the Company granted certain of the initial purchasers of the Convertible Notes a 13-day option to purchase up to an additional $75 million aggregate principal amount of the Convertible Notes. The offering is expected to close on October 16, 2020, subject to customary closing conditions. The Company expects to use a portion of the net proceeds from the offering to repay its 2.650% Senior Notes due 2020, with the remainder to be used for general corporate purposes.

The Convertible Notes will mature on November 15, 2023, unless earlier converted, redeemed pursuant to a tax redemption or repurchased. The initial conversion rate

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Royal Caribbean Group announces pricing of offering of 8,333,333 shares of common stock

MIAMI, Oct. 13, 2020 /PRNewswire/ — Royal Caribbean Group (NYSE: RCL) (the “Company”) today announced that it has priced its previously announced underwritten public offering of 8,333,333 shares of common stock of the Company at a price of $60.00 per share. The offering is expected to close on October 16, 2020, subject to customary closing conditions. The Company has granted the underwriters an option to purchase up to 1,250,000 of additional shares, which must be exercised on or before November 12, 2020. The Company expects to use the net proceeds from the offering for general corporate purposes.

The Company also announced by separate press release that it has priced its previously announced private offering to eligible purchasers of $500 million aggregate principal amount of 2.875% senior convertible notes due 2023 (or up to $575 million aggregate principal amount if the initial purchasers exercise in full their option to purchase additional

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Royal Caribbean, AMC fall; Ethan Allen, Walt Disney rise

Stocks that moved heavily or traded substantially Tuesday: Royal Caribbean, AMC fall; Ethan Allen, Walt Disney rise

NEW YORK — Stocks that moved heavily or traded substantially Tuesday:

The Walt Disney Co., up $3.99 to $128.96.

The owner of ABC, ESPN and Pixar is reorganizing its media and entertainment assets into three divisions.

Williams-Sonoma Inc., up $6.06 to $105.76.

The home furnishings and kitchen gadget retailer raised its quarterly dividend by 10%.

Ethan Allen Interiors Inc., up $2.06 to $17.69.

The home furnishings company gave investors a surprisingly good fiscal first-quarter financial update.

BlackRock Inc., up $24.07 to $638.96.

The investment firm beat Wall Street’s fiscal third-quarter profit forecasts.

Americold Realty Trust, down 59 cents to $38.54.

The owner of refrigeration warehouses is buying Agro Merchants Group for $1.74 billion.

Royal Caribbean Group, down $9.22 to $60.61.

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Why Royal Caribbean, Carnival, and Norwegian Cruise Line Stocks Plunged Today

What happened

Shares of Royal Caribbean (NYSE:RCL) sank on Tuesday after the cruise ship company said it was seeking to raise another $1 billion to fund its operations during the coronavirus pandemic. Fellow cruise ship operators Carnival (NYSE:CCL) (NYSE:CUK) and Norwegian Cruise Line Holdings (NASDAQ:NCLH) also fell on the news.

As of 10:40 a.m. EDT, Royal Caribbean, Carnival, and Norwegian Cruise Line Holdings were down 10%, 6%, and 6%, respectively.

So what

With most of its fleet unable to leave port due to COVID-related sailing restrictions, Royal Caribbean has suffered heavy losses during the coronavirus crisis. In just the first six months of 2020, it generated a net loss of $3.1 billion. 

Unfortunately, those losses are set to grow even larger in the coming months. Royal Caribbean said that while it hopes to resume voyages by Dec. 1, it could “provide no assurance” that it will be able to restart

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Cruise Ship Stocks Sink as Royal Caribbean Plans to Raise Capital

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A Celebrity Infinity Cruise ship, owned by Royal Caribbean Group, in Miami.


Joe Raedle/Getty Images


Royal Caribbean Group

unveiled plans Tuesday to raise $1 billion in new capital, the latest effort by a cruise operator to shore up liquidity as business remains sharply curtailed by the pandemic.

Royal Caribbean (ticker: RCL) said it has launched a private offering of $500 million in senior convertible notes due 2023, with a purchaser option to buy an additional $75 million of the convertible notes. It has also launched a public offering of $500 million shares of common stock, with an underwriter option to buy $75 million in additional shares.

Shares of all three major U.S. cruise operators were lower after the news. Royal Caribbean was down 10.9%, at $62.19, in recent trading, while rival

Carnival

(CCL) was off 6.5%, at $14.22, and

Norwegian Cruise Line Holdings

(NCLH) was down 6.9%, at

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Royal Caribbean Slides as It Looks to Raise $1 Billion From Stocks, Notes Offerings

Royal Caribbean  (RCL) – Get Report shares were falling after the cruise ship operator said it was raising $1 billion between stock and convertible bonds as the company struggles to weather the coronavirus pandemic. 

Shares of the Miami-based company were down 10.9% to $62.22.

Royal Caribbean said in separate news releases that it had begun an offering of $500 million of common stock and $500 million in convertible notes.

Each offering can be increased by up to $75 million should the respective underwriters choose to purchase as well, the company said.

The company said it expects to use a portion of the net proceeds from the offering to repay its 2.65% Senior Notes due 2020, with the remainder to be used for general corporate purposes.

Morgan Stanley and Bank of America Corp. are leading the stock offering.

“The disruptions to our operations resulting from the Covid-19 pandemic have

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BUZZ-U.S. STOCKS ON THE MOVE-Walt Disney, Royal Caribbean Cruises, Amazon, Micron

Eikon search string for individual stock moves: STXBZ

The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi

The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh

The S&P 500 and the Dow opened lower as a pause in Johnson & Johnson’s COVID-19 vaccine trials weighed, while the Nasdaq rose ahead of major events scheduled for Apple and Amazon.com. .N

At 9:35 a.m. ET, the Dow Jones Industrial Average .DJI was down 0.16% at 28,790.77. The S&P 500 .SPX was down 0.13% at 3,529.58 and the Nasdaq Composite .IXIC was up 0.03% at 11,879.838. The top three S&P 500 .PG.INX percentage gainers: ** Walt Disney Co <DIS.N>, up 4.2% ** Micron Technology Inc <MU.O>, up 3.3% ** EOG Resources Inc <EOG.N>, up 2.8% The top three S&P 500 .PL.INX percentage losers: ** Royal Caribbean Cruises Ltd <RCL.N>, down 9.5% ** Norwegian Cruise Line Holdings Ltd <NCLH.N>, down 6.2% ** Fastenal Co <FAST.O>, down 5.1% The top three

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Carnival, Royal Caribbean, and Norwegian Cruise Line Might Not Sail Until 2021

Carnival (NYSE:CCL)(NYSE:CUK) tried to dip its feet into the chilly November waters, but it’s now joining its smaller rivals in hoping for a December relaunch. Things could get worse. If the Centers for Disease Control and Prevention (CDC) reportedly has its way, we may have to wait until at least February to get the out-of-favor cruising industry back in business. 

The moment the CDC extended its No Sail Order until the end of October, we saw Royal Caribbean (NYSE:RCL) and Norwegian Cruise Line Holdings (NASDAQ:NCLH) cancel all U.S.-originating sailings until early December. With the CDC extending the order a few times now — and often near the end of the travel ban — they didn’t want to be caught with displaced passengers scrambling at the port for nixed voyages. Carnival initially decided on a clever gamble. It would move most of its future cruises until at least December, but

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Royal Caribbean Group announces proposed offering of senior convertible notes

MIAMI, Oct. 13, 2020 /PRNewswire/ — Royal Caribbean Group (NYSE: RCL) (the “Company”) today announced that it has commenced a private offering of senior convertible notes to be issued by the Company due 2023 (the “Convertible Notes”) for an aggregate principal amount of up to $500 million. In addition, the Company intends to grant the initial purchasers an option to purchase up to an additional $75 million principal amount of Convertible Notes.

The Convertible Notes will be convertible at the holder’s option in certain circumstances. Upon conversion, the Company may satisfy its conversion obligation by paying or delivering, at its election, as applicable, cash, shares of its common stock or a combination of cash and shares of its common stock.

The Company expects to use a portion of the net proceeds from the offering to repay its 2.650% Senior Notes due 2020, with the remainder to be used for general

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